In recent times, the emergence of non-fungible tokens has ignited vibrant discussions in the art realm and wider cultural dialogues. Their involvement in high-value digital art transactions and their perceived links to speculative markets frequently lead to polarized viewpoints.

Yet, beyond the excitement and debates, a groundbreaking technology is emerging that reshapes how we authenticate, preserve, and engage with art and culture. NFTs offer a secure ledger that fosters trust, transparency, and the safeguarding of cultural legacies—critical aspects necessary for grasping the true worth of art.

Significance of authenticity and provenance

Authenticity serves as the foundational element in art valuation. For instance, a painting attributed to Leonardo da Vinci could command hundreds of millions, while a replica from his contemporaries might plummet by over 99%. However, a modern reproduction of the original would not hold the same artistic value. This stark contrast in value stems from the authenticity of the piece.

Provenance, which may be less familiar to those outside the art sector, holds equal importance. It refers to the documented history of an artwork, following its path from creation through a series of owners to its current status. When an artwork’s provenance includes distinguished collectors or dealers, it not only confirms the artwork’s authenticity but also contributes historical context and significance, further amplifying its value.

Traditionally, authenticity and provenance have depended on physical documentation like catalogues, inventories, or certificates—all of which are prone to loss, damage, or manipulation. These vulnerabilities in historical records can complicate the assessment of an artifact’s genuine value. NFTs offer a remedy by establishing immutable records, preserving essential information, and providing a transparent, secure method to trace provenance.

Tokenization: A fresh approach to art?

Despite the promising advantages of NFTs for documentation and preservation, many conventional practices in publication, digitization, archiving, and database management endure. Experts in art and culture have not yet recognized the necessity of incorporating NFTs into these traditional frameworks.

Nonetheless, one of the most prevalent applications of NFTs in the art world is through tokenization. This process involves creating digital versions of artworks that receive certification from respected institutions. For example, in 2021, the British Museum launched over 200 NFTs of 19th-century drawings by the Japanese artist Hokusai, and the Belvedere Museum in Vienna tokenized Gustav Klimt’s The Kiss into 10,000 NFTs the following year.

These initiatives provide the public a novel means of engaging with cultural treasures. Instead of merely acquiring a postcard or memento at the conclusion of a museum visit, visitors can now purchase a piece of digital history that connects them to iconic artworks. This not only deepens connections with cultural artifacts but also contributes to the preservation and conservation of physical artworks via proceeds from the sale of these digital versions.

Private collectors have also adopted tokenization, often with investment objectives in mind, enabling fractional ownership of artworks through NFTs as digital proof of shares. However, this approach raises profound questions regarding the relationship between the physical artwork and its digital equivalent. For example, if one possesses an NFT share of an artwork, what rights does this grant? Can they display the artwork in physical or digital form? How mature will the market infrastructure need to be to effectively support the trading of these digital shares? Even within museum-led projects, how does the value and significance of an NFT compare to a freely accessible high-resolution image of the artwork? These inquiries directly influence the perceived value and liquidity of such NFTs, whether they are seen as digital derivatives or tangible ownership representations.

While tokenization presents numerous benefits related to education, engagement, and awareness, digital representations of art are likely to always remain secondary to their physical counterparts. Ultimately, the genuine value of art resides in its physical presence, and preservation efforts must persist in ensuring the material integrity of cultural artifacts. Museums, collectors, and cultural institutions will continue to require substantial investments in the protection and conservation of these pieces in controlled environments, employing a variety of technologies beyond NFTs.

NFTs: Shaping the future of cultural preservation and reinterpretation

So, what is the most effective use of NFTs in preserving historical art and culture? Artworks epitomize human creativity and cultural identity, and their preservation can follow two complementary approaches. One path focuses on safeguarding the physical artifacts left by those who came before us, ensuring they remain intact and accessible for future generations. The other path seeks to capture the essence of these works, reinterpreting them in innovative ways that fuse creativity with technology, advancing art and culture into the future.

NFTs present a unique opportunity to reconcile these two paths. They not only document and digitize historical artifacts but also empower artists to reimagine cultural heritage through new forms. By harnessing technology, we ensure the stories of our past resonate with future audiences.

An illustrative example of NFTs being utilized meaningfully and respectfully for cultural preservation is Refik Anadol’s collaboration with the Yawanawá people of Brazil, featuring a video artwork and a series of 1,000 unique, ever-evolving NFT data paintings. The project, Winds of Yawanawá, combines artworks by local creators, Amazon rainforest data, AI technology, and immersive digital displays to craft a data-driven art experience. This initiative not only honors Indigenous heritage but also raises awareness about the ecological significance of the Amazon, generating funds to support both cultural and environmental conservation efforts.

Such projects establish a framework for how NFTs can serve not merely as static tokens of ownership but also as dynamic platforms for storytelling, advocacy, and cultural preservation. By merging traditional art forms with environmental and technological data, NFTs can create immersive, educational experiences that amplify Indigenous voices and nurture cultural pride.

Welcoming the future of art & culture

At present, contemporary artists are reaping the primary benefits of NFT technology. NFTs can document provenance and authenticate works from the moment of creation, giving future collectors certainty about the artwork’s origins. Furthermore, NFTs can function as comprehensive digital archives, encompassing details such as sponsors, editions, exhibition histories, and transparent pricing.

We must always keep in mind that we are perpetually crafting history. The art of today will transform into the “ancient art” of tomorrow. Culture represents a continuum, and our engagement with time, as well as its influence on art, is inherently fluid. By adopting NFTs, we can ensure that today’s artistic narratives are preserved for generations to come.

I am convinced that all beginnings originate in the mind. As humans, we generate ideas and manifest them into physical objects, infusing them with meanings and interpretations. In this digital age, we increasingly value intangible assets such as digital experiences and virtual spaces. Rather than merely duplicating physical objects digitally, we should continue to exploit our creativity to forge new forms and experiences that will define the future. This is how art and culture progress, adapting to contemporary times while retaining the core of human expression.

Guoying Stacy Zhang

Guoying Stacy Zhang is an art advisor who established Buddhaland, an innovative community merging art, spirituality, and technology to empower individuals. Boasting over a decade of expertise, she has collaborated extensively with art and religious organizations. Since 2016, her column at Buddhistdoor Global has introduced genuine Buddhist teachings and rare art pieces to the public by interviewing religious leaders, scholars, artists, and private collectors. Stacy also served as associate curator at Tsz Shan Monastery and aided Po Lin Monastery in researching the conservation of the Big Buddha statue in Hong Kong. Her contributions to these projects have been published in Arts of Asia. Stacy pursued studies in art history and Buddhist art at the School of Oriental and African Studies and the Courtauld Institute of Art as a Robert H. N. Ho Family Foundation scholar.